Argentina Mining's Blog I Latest news on Mining in Argentina

Este blog fue creado para publicar novedades sobre la mineria en Argentina, complementando así nuestro web y presencia en redes sociales. Como todas nuestras actividades, apunta a conectar a la comunidad minera argentina y establecer un ámbito de promoción de la actividad en el mundo, generando oportunidades de negocios.
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This blog was created to publish news on argentinean mining, thus complementing our website and presence in social networks. As all of our activities, it intends to connect the mining community in Argentina and provide a place to promote the activity in the world, developing business opportunities.

19 feb 2009

Silver: The Market’s Top Performer

Wed, Feb 18, 2009

By Melissa Pistilli-Exclusive to Silver Investing News

Silver is on a roll. This week the precious metal has soared past a more than five-month high reaching upwards of $14.35 Wednesday morning. Analysts have said if the price can breach $13.88 (which it has and then some), then we could very well see the silver price at $16.50 in the medium term. The next key resistance to watch is $14.70. However, be aware that the silver market is a volatile one and a slide down is quite possible. But the general trend, according to Crown Forex, is to the upside as long as support at $12.00 remains steady.
Gold and silver are both benefitting from a sense of trepidation in the markets as speculation swirls over the possible dangers of almost nonexistent interest rates and over-the-top government spending. In the U.S. and Japan, interest rates are nearly zero and the Bank of England recently cut its rate to 1 per cent. “Up the road, you’re looking at governments devaluing their currencies to pay for the financial crisis. It’s the ultimate flight to safety for gold,” said Frank McGhee, the head dealer at Integrated Brokerage Services LLC.
After a break for President’s Day, the markets tanked on Tuesday amidst concerns Obama’s $787 billion stimulus plan is too little too late. The Dow closed down almost 300 points (3.8 per cent). The S&P index lost 4 per cent at the opening bell and by the end of the trading day had lost 4.6 per cent.
Markets in Asia and Europe fared no better as worries over bank stability cast a dark shadow. Moody’s credit ratings agency has released a cautionary report that failing economies in Eastern Europe, where bank shares plunged to six-year lows, will negatively impact banks in Austria, Belgium, France, Germany, Italy and Sweden. Already, banks around the globe have experienced close to $1.1 trillion in writedowns and credit losses over the fallout from the U.S. subprime-mortgage market debacle.
Fear over the uncertainty in the markets and the global economy is pushing many investors into the safety of precious metals, said Peter Fertig, owner of Quantitative Commodity Research Ltd.
While gold is faring unsurprisingly well in this climate, it is silver stocks that are ranking as the top equity performers. Silver equities had risen nearly 5 per cent by Tuesday afternoon, to end the day with close to 3 per cent gains. “Silver stocks, which command a combined global market value (capitalisation) of $13 billion, currently rank as the best performing equity sub-sector in the world, led by stellar performances from Silver Standard, Fresnillo, and First Majestic,” wrote Barry Sergeant of Mineweb.

Continue reading at: http://www.silverinvestingnews.com/1034/silver-the-market%E2%80%99s-top-performer.html

13 feb 2009

Mirasol Options the Nico Silver-Gold Project to Coeur d’Alene Mines


Mirasol Resources Ltd. announces that it has signed an exploration option agreement with Coeur d Alene Mines to explore and develop Mirasol’s 100% owned Nico Project, located in the Deseado Massif gold-silver epithermal district of Santa Cruz province, southern Argentina.
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The terms of the agreement provide that Coeur spend US $2.3 million in exploration over four years to earn a 55% interest in the property, and a 65% interest on completion of a bankable feasibility study, at which time Mirasol may elect to maintain a 35% participation. Coeur may acquire a 75% interest by providing project development financing at commercial terms to Mirasol. Additionally, during the exploration period Coeur will make cash payments totaling US $250,000 to Mirasol and act as project operator.
Continue reading at:

12 feb 2009

Minera Andes responds to Hochschild Mining plc

SPOKANE, WA, Feb. 11 MineraAndes-HochschldTSX: MAI
NASD-OTCBB: MNEAF
SPOKANE, WA, Feb. 11 /PRNewswire-FirstCall/ - Minera Andes Inc. (the "Corporation" or "Minera Andes", TSX:MAI and US OTC:MNEAF) responds today to a news release issued by Hochschild Mining plc ("Hochschild") announcing that Hochschild had made "firm proposals" to Minera Andes for the acquisition of its 49% interest in the San Jose Project or for the acquisition of all of Minera Andes' shares by way of a plan of arrangement.The announcement made by Hochschild was a direct response to the Corporation's news release of February 8 announcing that the Corporation had entered into a letter agreement with Robert R. McEwen, a director and existing shareholder of the Corporation, pursuant to which Mr. McEwen or an affiliate of Mr. McEwen will purchase, on a private placement basis, 121,212,121 common shares of the Corporation at a price of C$0.33 per share, for proceeds of C$40.0 million.

Continue reading at:
http://www.earthtimes.org/articles/show/minera-andes-responds-to-hochschild-mining-plc,712653.shtml

Golden Peaks Resources Ltd. - Cerro Delta Drill Permits Received

VANCOUVER, Feb. 12, 2009 (Canada NewsWire via COMTEX) -- GL Quote Chart News PowerRating -- Golden Peaks Resources Ltd. (TSX: GL Quote Chart News PowerRating) (the "Company") is pleased to provide an update on the current activities pertaining to the Company's Cerro Delta and La Fortuna Argentinean gold projects. The Company has acquired and maintains controls over a 100% interest in both projects. The Cerro Delta project is located in the province of La Rioja, adjacent to the international border with Chile and in close proximity to the Cerro Casales porphyry gold deposit; a joint venture between Barrick Gold Corporation and Kinross Gold Corporation. The La Fortuna project is centrally located in the province of Chubut.

Given the current global economic climate the Company is pleased to announce that it continues to forge ahead with its 2009 program and has made excellent progress in that regard on both current projects. The following summary provides insight with respect to each project :

Continue reading at:
http://www.tradingmarkets.com/.site/news/Stock%20News/2174740/